Thopen plans to use surplus solar energy for Bitcoin mining.
The move could cut curtailment losses and boost grid stability.
Brazil may emerge as a leader in sustainable crypto mining.
Brazilian solar energy firm Thopen is considering a bold new move to address one of the country’s most pressing renewable energy challenges of excess electricity generation.
The company plans to explore Bitcoin mining as a way to convert surplus solar energy into a profitable and sustainable business model.
Turning surplus energy into digital gold
Brazil’s rapid expansion of solar and wind power has brought both opportunities and challenges.
While the country now generates abundant clean energy, transmission bottlenecks and limited local demand have resulted in an oversupply in several regions.
This surplus often leads to energy curtailment, where producers are forced to reduce output, causing financial losses.
Thopen’s CEO, Gustavo Ribeiro, has acknowledged this growing concern and revealed that the company is studying ways to transform the problem into an advantage.
During an interview with BN Americas, Ribeiro explained that Thopen is considering setting up Bitcoin mining operations and data centers near its energy generation sites.
The goal, Ribeiro said, is to “convert energy into capital” — a strategy that could help absorb excess electricity, stabilize local supply, and ensure that renewable power is not wasted.
A breakthrough for Brazil’s renewable energy sector
The proposal comes at a time when Brazil’s renewable energy industry is facing limits on the amount of solar power it can feed into the grid.
By channeling surplus electricity into Bitcoin mining, Thopen aims to reduce curtailment losses and create a steady revenue stream.
Analysts note that this integration of renewable energy and digital mining could offer a flexible, scalable solution for the nation’s energy sector.
Similar models are emerging across the globe.
In the United Kingdom, Union Jack Oil has begun converting excess natural gas into electricity to power Bitcoin mining operations.
In Canada, AgriFORCE Growing Systems announced plans to use stranded gas to run mining rigs.
Thopen’s venture could position Brazil as the next country to merge clean energy with crypto mining on a large scale, showcasing an innovative way to monetize renewable resources.
Sustainable Bitcoin mining and grid stability
One of the most promising aspects of Thopen’s strategy is its potential to improve both environmental and economic outcomes.
Using surplus renewable power for Bitcoin mining eliminates the need for fossil fuel-based energy, significantly reducing the carbon footprint of the process.
It also provides solar farms with a new income source, turning what would otherwise be wasted electricity into a productive asset.
Experts say this model can also enhance grid stability.
When power generation exceeds demand, mining operations can consume the surplus, balancing the system and preventing instability.
During low-output periods, operations can scale down, allowing electricity to flow back to the grid when it is needed most.
This flexibility makes Bitcoin mining an ideal companion to variable renewable sources like solar and wind.
The challenges and opportunities ahead
Despite its potential, Thopen’s plan is not without obstacles.
Brazil’s regulatory framework for cryptocurrency and energy integration remains under development.
Companies venturing into this space must navigate evolving policies, infrastructure demands, and the volatility of the crypto market.
However, industry observers believe that the benefits far outweigh the risks.
Ribeiro’s vision aligns with Brazil’s broader renewable energy goals — promoting efficiency, innovation, and sustainable economic growth.
If successful, Thopen’s approach could reshape how nations handle renewable energy surpluses, offering a model that is both profitable and environmentally sound.
The US Fed has cut rates by 25 bps, signaling a softer monetary stance.
Bitcoin price is down 3% to $111,400 as traders digest the policy move.
Fed to end the quantitative tightening on December 1.
The cryptocurrency market has seen renewed volatility after the US Federal Reserve announced a widely expected 25-basis-point interest rate cut.
Bitcoin (BTC), Ethereum (ETH), and other altcoins have reacted with mild declines as traders digested the central bank’s decision and its implications for the broader economy and digital asset markets.
Fed delivers another cut amid economic uncertainty
The Federal Reserve reduced its benchmark federal funds rate by a quarter of a percentage point, bringing it down to a target range of 3.75%-4%.
This marks the second consecutive rate cut as policymakers move to support a cooling economy.
The decision, anticipated by nearly all market participants, came amid ongoing concerns over a weakening labor market, a persistent government shutdown, and the scarcity of fresh economic data.
At the post-meeting press conference, Fed Chair Jerome Powell noted that while some key federal data releases have been delayed by the government shutdown, the available public and private sector information suggests that the outlook for employment and inflation has changed little since the September meeting.
Powell also cautioned that another rate cut in December is “not a foregone conclusion.”
While projections released in September had indicated potential reductions in both October and December, Powell emphasized that the December move is not assured, signaling a more data-dependent approach by the central bank.
The Fed also announced it would end its quantitative tightening program on December 1, signaling a gradual shift toward a less restrictive policy stance.
However, not all members of the Federal Open Market Committee agree on how quickly to ease policy.
Some, like Stephen Miran, have argued for a steeper 50-basis-point reduction to accelerate growth, while others — including Cleveland Fed President Beth Hammack and Dallas Fed President Lorie Logan — advocated caution.
This internal split underscores growing uncertainty over how the Fed will navigate the coming months.
Crypto markets unimpressed as Bitcoin price slips
In the hours following the Fed announcement, Bitcoin price slipped roughly 3% to trade near $111,400, while Ethereum hovered around $4,000, down a similar margin.
The broader crypto market cap stood at $3.86 trillion, after a modest 2.4% drop, with many top assets in the red.
Liquidations across derivatives platforms totaled approximately $560 million, reflecting a brief wave of volatility.
The muted reaction suggests the rate cut had been largely priced in, with traders anticipating the move weeks in advance.
Bitcoin’s weakness, in particular, follows a broader retreat from the all-time high it reached earlier this month.
Despite optimism surrounding lower rates and renewed liquidity, the market remains cautious.
Ethereum and other leading altcoins, including Solana (SOL), XRP, and Binance Coin (BNB), have also registered small daily losses.
Economic backdrop weighs on investor sentiment
Recent data from the Chicago Fed shows unemployment holding near 4.3%, its highest level in four years, while inflation continues to hover around 3%, above the central bank’s 2% target.
The Conference Board’s Expectations Index also remains below levels typically associated with economic optimism, fueling fears of a potential recession.
These signals paint a picture of an economy losing momentum.
With inflation still elevated and job growth softening, the Fed faces a delicate balancing act — supporting growth without reigniting price pressures.
Analysts suggest that if the economy slows further, additional rate cuts could follow before the end of the year.
Markets now await Powell’s next move
Traders will closely watch Powell’s comments for hints about how long the current easing cycle might continue.
Many expect the Fed to maintain a cautious tone while emphasizing flexibility, given the lack of up-to-date economic data due to the government shutdown.
Crypto analysts believe that a sustained move toward lower rates and an eventual halt to balance-sheet tightening could support digital assets in the medium term.
Easier financial conditions tend to encourage risk-taking, and historically, Bitcoin and other cryptocurrencies have benefited when liquidity expands.
Still, near-term volatility is likely.
The Bitcoin price remains sensitive to macroeconomic shifts, and with uncertainty over both monetary policy and the global economic outlook, traders may see further swings before the market finds its next direction.
In the short term, crypto investors are bracing for Powell’s remarks and any signals of further easing.
While lower interest rates can provide relief for risk assets, the path forward remains uncertain — and for now, Bitcoin and altcoins appear content to wait for clearer signs from the Fed’s next move.
The L1 project burns over 6.7M tokens in its first community buyback.
The initiative aims to reward active network participants.
Another buyback is slated for November, strengthening Injective’s deflationary mechanism.
Injective has taken it to X to confirm the completion of its first community-led token buyback, which started on October 23, marking a key step in the L1’s deflationary model.
The team revealed that the event burned 6.78 million INJ coins, worth roughly $32.28 million.
The first $INJ Community BuyBack is now officially complete!
Injective is the only chain where token buybacks directly reward the community.
1. INJ is burned forever 2. The community earns from a reward pool for their contributions
The strategic initiative sets Injective apart from most blockchain projects, making asset buybacks a community-driven event.
Rather than the foundation or team repurchasing tokens and burning them privately, Injective prioritizes user participation.
The layer 1 network creates a system that merges deflation with community incentives.
Such an approach ensures that active network participants benefit from Injective’s ecosystem expansion, aligning rewards between INJ holders, traders, and developers.
The announcement read:
Injective is the only chain where token buybacks directly reward the community.
Notably, Injective opened the first community buyback event for the public on October 23, with the actual repurchase and token burn occurring after a week, on October 27.
Injective’s unique buyback strategy
Injective’s community buyback mechanism adopts two powerful yet simple ways.
First and foremost, the platform permanently burns native tokens to reduce the overall supply.
Secondly, it distributes some of the value to reward users who contribute to the INJ’s ecosystem.
The Community BuyBack is a monthly on-chain event that allows anyone to take part in Injective’s deflationary mechanism. Participants commit INJ, and in return receive a pro rata share of the revenue generated across the Injective ecosystem. The INJ exchanged is then permanently burned, reducing the total supply of INJ.
Notably, the Community BuyBack basket comprises various tokens, including USDT and INJ, valued at 10,000 Injective tokens.
That design introduces a robust deflationary model, while incentivizing loyal users.
Injective maintains transparency, with all buyback information available on the dashboard.
Adopting a deflationary economy with a twist
Injective’s latest announcement is part of its broader mission to build a community-centered, sustainable token economy.
By burning native tokens every month, the project aims to reduce INJ inflation while encouraging long-term holding.
Most projects across the decentralized finance sector are embracing such mechanisms.
However, Injective has added a significant twist, involving its users in the process.
Besides strengthening trust, such an approach keeps INJ holders engaged in the ecosystem’s growth.
Also, holders will benefit from scarcity as every buyback reduces the circulating asset supply permanently.
The next burn will happen next month, in November.
INJ price outlook
The native token remained relatively muted over the past 24 hours, as bears moved the broader market.
INJ is trading at $8.66. It has consolidated between $9 and $8 over the previous week, gaining over 3% in that timeframe.
Its daily trading volume has increased by 17%, signaling renewed optimism, likely following the buyback announcement.
Nevertheless, broad market sentiments will influence the altcoin’s price trajectory in the coming sessions.
The Federal Reserve cut rates by 25 basis points today and hinted that its balance-sheet runoff may soon end, arguably the bigger story for Bitcoin.
With the overnight reverse repo facility nearly empty at roughly $14 billion, any further quantitative tightening now drains bank reserves directly.
That shift means even small tweaks to QT have outsized effects on liquidity, real yields, and the dollar: the two macro dials most tied to Bitcoin’s performance this year.
Coming into the meeting, real yields had already eased from summer highs. The 10-year TIPS yield hovered around 1.7%, while five-year forward inflation expectations sat near 2.2%, signaling softer real rates and anchored inflation.
The dollar index was near 99, down notably from early-year peaks. Together, those trends set the stage for a liquidity-friendly reaction once the Fed leaned dovish.
Chair Powell’s comments confirmed that the Fed sees policy as “sufficiently restrictive” and that it’s prepared to adjust QT to maintain “ample reserves.” That guidance matters more for risk assets than the rate cut itself.
Research consistently shows that forward guidance and balance-sheet expectations move long-term real yields more than the policy rate, influencing risk appetite and ETF demand. A pause, or even talk of one, lowers the opportunity cost of holding Bitcoin, weakens the dollar, and encourages inflows into spot BTC ETFs.
ETF data support the link. US spot Bitcoin funds logged roughly $446 million in net inflows in the week heading into the decision, reversing mid-month softness.
Previous FOMC cuts have seen similar follow-through: softer real yields and a weaker dollar tend to coincide with stronger ETF creations over the next 48 hours.
With real yields drifting lower and the dollar easing today, traders will be watching whether that pattern repeats into settlement at the end of the week.
The Fed’s balance sheet now sits near $6.6 trillion, down from a $9 trillion peak, and reserves total about $3 trillion. Powell’s October 14 speech laid out this mix and framed QT’s “endgame” as a live debate, another signal that liquidity tightening is nearly done.
That’s the channel Bitcoin trades: not the nominal funds rate, but whether system reserves are rising or shrinking.
As QT winds down, marginal dollars flow back into bank and market liquidity, indirectly fueling risk-taking and crypto demand.
The bottom line is that with RRP balances drained and QT nearing its conclusion, liquidity guidance and not the 25 bp cut will steer real yields and the dollar, which are the key drivers of Bitcoin’s short-term direction.
If Powell’s tone stays dovish and the QT pause narrative strengthens, expect real yields to slip, the dollar to soften, and ETF inflows to pick up: a constructive setup for BTC.
If he backpedals toward inflation vigilance, those gains will likely fade.
Bitcoin’s failure to rise above $118,000 may have attracted profit-booking by short-term traders, resulting in a drop toward $107,000.
Several major altcoins turned down from their overhead resistance levels, signaling that the bears remain sellers on rallies.
Bitcoin (BTC) bulls are attempting to sustain the price above $111,000, but the bears have continued to exert selling pressure. Glassnode wrote in its latest Weekly Market Impulse report that BTC’s recent recovery was not supported by increased participation, signaling a “potential consolidation phase.”
A slightly cautious view came from crypto market intelligence company 10x Research, which said that BTC’s current bull market cycle may not get extended beyond the traditional four-year cycle, as BTC has become too expensive for sustained retail purchases. The company projected a cycle top of $125,000 based on their research methodology.
BTC remains stuck inside the large range, but a minor positive in favor of the bulls is that investors continue to buy spot BTC exchange-traded funds. According to Farside Investors’ data, the BTC ETFs have recorded net inflows of $462.6 million over the past four days.
What are the critical support and resistance levels to watch for in BTC and the major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC’s failure to stay above the 50-day simple moving average ($114,278) attracted sellers, pulling the price below the 20-day exponential moving average ($112,347).
If the price closes below the 20-day EMA, the bears will try to yank the BTC/USDT pair to the critical support at $107,000. Buyers are expected to defend the $107,000 level with all their might, as a break below it will complete a double-top pattern. The Bitcoin price may then slump to $100,000.
The $118,000 level is a key resistance to watch on the upside. A break and close above it could propel the pair to the all-time high of $126,199.
Ether price prediction
Ether (ETH) turned down from the 50-day SMA ($4,220) on Monday, indicating that the bears are active at higher levels.
Sellers are attempting to pull the price to the support line of the descending triangle pattern, which is a critical level to watch out for. A break and close below the support line could sink the Ether price to $3,350.
The bulls will have to push the price above the 50-day SMA to signal strength. The ETH/USDT pair could then climb to the resistance line, where the sellers are likely to pose a strong challenge. Buyers will have to overcome the barrier at the resistance line to signal the start of the next leg of the up move.
BNB price prediction
BNB (BNB) turned down from the 38.2% Fibonacci retracement level of $1,156 on Monday, but a minor positive is that the bulls defended the 50-day SMA ($1,076) on Tuesday.
The flattish 20-day EMA ($1,119) and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price turns down and breaks below the 50-day SMA, it signals the start of a deeper correction to $1,021 and later to $932. Such a move suggests that the BNB/USDT pair may have topped out in the near term.
Conversely, a break and close above $1,156 indicates strong buying at lower levels. The BNB price may then surge to the 61.8% retracement level of $1,239.
XRP price prediction
XRP (XRP) has been trading between the breakdown level of $2.69 and the 20-day EMA ($2.56) for the past few days.
The tight range trading is likely to be followed by a range expansion. If the price turns down and breaks below the 20-day EMA, it suggests that the bears have overpowered the bulls. The XRP price could then drop to $2.20.
On the contrary, a break and close above $2.69 could propel the XRP/USDT pair to the downtrend line. Sellers are expected to vigorously defend the downtrend line, as a break above it opens the gates for a rally to $3.20 and then $3.38.
Solana price prediction
Buyers pushed Solana (SOL) above the 20-day EMA ($196) on Sunday but are struggling to sustain the higher levels.
The flattish 20-day EMA and the RSI near the midpoint signal a balance between supply and demand. If the price closes above the 20-day EMA, the SOL/USDT pair could rise to the resistance line. Buyers will have to push the price above the resistance line to gain strength.
Alternatively, if the price turns down and breaks below $190, it suggests that the bears are in control. The pair could then descend to $177 and eventually to the support line of the channel.
Dogecoin price prediction
Dogecoin (DOGE) turned down from the $0.21 overhead resistance on Monday, signaling that the bears are aggressively defending the level.
The bears will try to build upon their advantage by pulling the Dogecoin price below the $0.17 level. If they manage to do that, the DOGE/USDT pair could decline to the critical support at $0.14. Buyers are expected to defend the $0.14 level with all their might, as a break below it would clear the path for a retest of the $0.10 level.
The first sign of strength will be a close above $0.21. If that happens, the pair could rise to the 50-day SMA ($0.23) and later to $0.27.
Cardano price prediction
Cardano (ADA) turned down from the 20-day EMA ($0.68) on Monday, indicating that the sentiment remains negative.
The bears will attempt to sink the Cardano price below the $0.59 support. If they can pull it off, the ADA/USDT pair could plunge toward the vital support at $0.50. Buyers are expected to fiercely defend the $0.50 level.
On the upside, a break and close above the 20-day EMA signals that the bulls are attempting a comeback. The pair could then rally to the breakdown level of $0.75 and subsequently to the downtrend line.
Buyers will attempt to strengthen their position by pushing the Hyperliquid price above the $51.50 overhead resistance. If they manage to do that, the HYPE/USDT pair could retest the all-time high at $59.41.
Sellers are likely to have other plans. They will try to defend the $51.50 level and pull the price below the 20-day EMA ($42.64). If they succeed, the pair could plummet toward the crucial support at $35.50.
Chainlink price prediction
Chainlink (LINK) turned down from the 20-day EMA ($18.52), indicating that the bears are selling on rallies.
The bears will attempt to pull the Chainlink price to $16.71 and then to the strong support at $15.43, where the buyers are expected to step in.
Contrarily, if the price turns up from the current level and breaks above the 20-day EMA, it suggests that the selling pressure is reducing. The LINK/USDT pair could then rally to the resistance line. Buyers will have to push and maintain the price above the resistance line to signal that the correction may be over.
Bitcoin Cash price prediction
Bitcoin Cash (BCH) has reached the resistance line of the falling wedge pattern, where the bears are posing a strong challenge.
The upsloping 20-day EMA ($527) and the RSI in the positive territory indicate the path of least resistance is to the upside. A close above the resistance line opens the doors for a rally to $615 and then $651.
Sellers will have to swiftly pull the Bitcoin Cash price back below the 20-day EMA to regain control. The BCH/USDT pair could then fall toward the strong support at $450.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Former Binance CEO Changpeng “CZ” Zhao is reportedly considering filing a libel suit against Massachusetts Senator Elizabeth Warren over claims related to him allegedly bribing US President Donald Trump for a pardon.
According to a Tuesday New York Post report, Zhao’s lawyer, Teresa Goody Guillén, a partner at Baker & Hostetler, said the former Binance CEO plans to file a lawsuit unless Warren retracts claims she made in an Oct. 23 X post following his presidential pardon.
The social media post, which now includes context from readers, claimed CZ “pleaded guilty to a criminal money laundering charge,” leading to his four-month prison sentence in 2024. Zhao pleaded guilty to one charge related to his failure to maintain an effective Anti-Money Laundering program at Binance in November 2023 — a violation of the Bank Secrecy Act.
“Mr. Zhao will not remain silent while a United States Senator seemingly misuses the office to repeatedly publish defamatory statements that impugn his reputation,” Goody Guillén said, according to The Post. “Accordingly, Mr. Zhao respectfully immediately requests the retraction of these false statements, both within the resolution and on X… Mr. Zhao reserves his right to pursue all legal remedies available to address these false statements.”
Trump’s pardon of CZ on Oct. 23 shocked many in the crypto industry and in Congress, where some claimed the president had acted in response to an Abu Dhabi-based investment company investing $2 billion into Binance using the USD1 stablecoin issued by World Liberty Financial — the crypto company tied to Trump’s family.
Warren’s tweet also claimed that Zhao “financed President Trump’s stablecoin,” calling the move “corruption.” CZ responded online by claiming “there were NO money laundering changes [sic]” and Warren “can’t get her facts right.”
Cointelegraph reached out to Warren’s office, Binance and Goody Guillén for comments on the potential lawsuit but had not received responses at the time of publication. Warren had not issued any public statement through social media on the potential lawsuit, and her X post was still live at the time of publication.
Not CZ’s first rodeo in defamation lawsuits
In July, CZ threatened to file a lawsuit against Bloomberg over a report that claimed Binance developed the original smart contract code for the USD1 stablecoin. The report included claims that Zhao had applied for a presidential pardon after the $2-billion deal tied to USD1 and Binance.
The former Binance CEO sued Bloomberg Businessweek in 2022 over a report in its Chinese-language edition claiming that the crypto exchange was operating a Ponzi scheme. In response, the magazine issued an apology in 2024, and the company agreed to make a charitable donation to settle the matter.
“Ethereum for Institutions” helps businesses integrate with the Ether ecosystem.
The new platform showcases Ethereum’s role in DeFi, L2 scaling, and RWAs.
ETH eyes rebounds as whales accumulate.
The Ethereum Foundation has announced a new website, Ethereum for Institutions, designed to guide businesses on how to operate on-chain.
Unveiled today, October 29, the site aims to supercharge Ethereum adoption among top companies.
The official announcement reads:
Ethereum is the neutral, secure base layer where the world’s financial value is coming on-chain. Today, we’re launching a new site for the builders, leaders, and institutions advancing this global movement.
The foundations Enterprise Acceleration team created the new website to present a clear framework for firms interested in building and investing in the second-largest cryptocurrency.
Ethereum for Institutions offers case studies, resources, and access to industry leaders shaping the next phase of DeFi.
Scaling Ethereum for enterprise utility
Scalability has been among the primary challenges in Ethereum’s push for institutional-grade adoption.
Meanwhile, its L2 ecosystem, comprising projects like Arbitrum, zkSync, Base, and Optimism, is addressing that.
The foundation revealed that Layer2s secure more than $50 billion in value. The team said:
With $50B+ in total value secured, L2s provide the high-throughput, low-cost execution needed for global-scale applications – from payments to tokenization.
These platforms have gained traction for offering low costs and high throughput essential for enterprise-level utility, including real-world assets tokenization, trading, and payments.
Notably, the new website features a comprehensive L2 segment showcasing how these solutions are enabling cheaper and faster transactions while leveraging Ethereum’s robust security.
Layer 2 platforms offer the infrastructure for businesses navigating decentralized finance, stablecoins, or tokenization.
Ethereum transforms the on-chain economy
Ethereum’s new institutional website is beyond a documentation hub. It welcomes the next phase of digital finance.
It lowers entry barriers for traditional institutional navigating on-chain finance by organizing data around key sectors like DeFi, staking, restaking networks, RWAs, and DeFi.
It builds on the Ethereum vision, serving as a neutral, composable, and public infrastructure that supports financial innovation.
The blockchain continues to merge TradFi and DeFi, leveraging an ecosystem of thriving developers, high-end privacy tools, and scalability through L2 platforms.
With more institutions embracing blockchain through ETFs and digital assets strategies, Ethereum’s institutional portal offers a lucrative entry point.
The website connects global businesses with the foundation blocks of the digital economy.
ETH price outlook: whales are buying
The largest altcoin by market value is trading at $3,971 following an over 3% decline in the past 24 hours.
Its bearish trajectory mirrors the broader sector.
CoinMarketcap data shows the value of all digital currencies declined by 3% the previous 24 hours to $3.76 trillion.
Nevertheless, Lookonchain data shows large-scale investors are buying the dip.
Bitime’s new wallets have received 33,948 ETH tokens, worth approximately $135 million, from Falcon X today.
US-traded spot Ethereum exchange-traded funds (ETFs) recorded persistent outflows during late September and mid-October, periods that coincided with relative weakness in the ETH/BTC ratio.
Yet, non-US inflows and continued staking growth blunted the price impact, suggesting the headwind is episodic rather than structural.
The question of whether ETF redemptions drive Ether’s underperformance against Bitcoin requires parsing flow data alongside derivatives positioning, staking supply sinks, and regional divergences.
ETF creations and redemptions reflect authorized-participant activity rather than direct buying or selling, and their relationship to price is conditional on broader market structure, such as funding rates, basis spreads, and competing yield opportunities.
The evidence shows outflow windows correspond to ETH/BTC softness when derivatives positioning turns negative, but staking inflows and European buying have repeatedly absorbed US selling pressure, limiting the transmission from flows to spot.
Flow patterns and timing
US spot Ether ETFs swung between heavy inflows in July and August and multi-week outflow periods in late September and mid-to-late October.
The week ending Sept. 26 saw record US redemptions of approximately $796 million, concentrated in Grayscale’s ETHE as investors rotated to lower-fee products or exited positions entirely.
Outflows resumed around Oct. 23-24, with the week ending Oct. 27 recording roughly $169 million in net redemptions across US Ether ETPs.
Those periods aligned with ETH/BTC declines on a weekly close-to-close basis, supporting the hypothesis that flows carry a price signal.
ETH/BTC declined during four net-outflow weeks with a –0.53 correlation between U.S. ETF flows and weekly ratio changes from late September through October.
The opposite pattern appeared in early October. The week ending Oct. 6 brought approximately $1.48 billion in net inflows to the US.
Ether ETFs during a broader risk-on environment, and ETH/BTC stabilized or ticked higher. That correlation between inflows and relative strength, and outflows and relative weakness, holds across the July-to-October window when aggregated to weekly frequency.
However, the relationship is noisy at daily intervals and breaks down when regional or derivatives factors dominate.
Non-US Ether exchange-traded products complicate the narrative. CoinShares data show Germany, Switzerland, and Canada absorbed Ether ETPs during mid-October US outflows, resulting in net global inflows in some weeks despite US redemptions.
Hong Kong’s spot Ether ETFs remain smaller but add a second ex-U.S. data point as that market matures.
The regional divergence implies US flows are necessary for price modeling but not sufficient, global demand can offset domestic selling, particularly when European investors view drawdowns as entry points.
Derivatives amplify flow signals
The relationship between ETF flows and ETH/BTC performance strengthens when derivatives positioning agrees.
CME Ether futures open interest and perpetual funding rates act as amplifiers. When the three-month annualized basis slips into negative territory and funding rates turn negative, outflow-driven price pressure intensifies.
Conversely, positive basis and elevated funding can mute the impact of redemptions by signaling speculative demand and willingness to pay for leverage.
Data from CME Group show Ether futures open interest climbing through October, reflecting heightened institutional participation around the flow cycles.
Weighted average perpetual funding rates tracked by aggregators turned negative during the late-September outflow window and again in mid-October, suggesting leveraged long positions unwound alongside ETF redemptions.
That dual pressure, spot selling via ETF redemptions and derivatives deleveraging, appears to drive the periods of sharpest ETH/BTC underperformance.
When the basis and funding stabilize or turn positive, the flow-price link weakens. Early October’s inflow surge corresponded with a shift to positive funding and firmer basis, and ETH/BTC stopped declining despite mixed signals elsewhere in crypto markets.
The interaction term between flow direction and derivatives positioning is more predictive than flows alone, matching prior research on Bitcoin ETFs, which found that flows explain roughly 32% of daily price variance when isolated but gain explanatory power when combined with leverage metrics.
Staking and liquid staking tokens as supply sinks
Ethereum’s Beacon Chain validator count continued rising through October, with net validator entries absorbing ETH supply that might otherwise flow to exchanges or ETF redemption baskets.
Liquid staking token protocols, including Lido’s stETH, Coinbase’s cbETH, and Rocket Pool’s rETH, also recorded supply growth during the outflow windows, indicating organic staking demand persisted independent of ETF activity.
Quantifying the offset requires comparing weekly changes in staked ETH and LST outstanding against weekly ETF net flows.
Beacon Chain data show validator additions equivalent to tens of thousands of ETH per week during September and October, while LST supply growth tracked similar magnitudes.
When combined, staking sinks often matched or exceeded US ETF outflows every week, suggesting that redemptions removed ETH from exchange-traded wrappers without flooding spot markets, as staking absorbed the released supply.
Tokenized US Treasuries offering four to 5% yields on-chain represent a competing destination for capital that might otherwise allocate to ETH or Ether ETFs.
Real-world asset protocols reported tokenized Treasury supply ranging from $5.5 billion to $8.6 billion through 2025, providing a risk-free rate alternative that can siphon inflows during periods when Ether’s total return lags short-term rates.
The competition is most acute among institutional allocators, who compare Ether ETFs with tokenized money-market instruments, particularly when ETH volatility rises or the ETH/BTC ratio stagnates.
Measuring the flow-price relationship requires weekly aggregation to smooth intraday noise and alignment with ETH/BTC weekly closes to capture relative performance.
Correlations between net weekly ETF flows and weekly ETH/BTC returns are positive during the July-to-October window. Still, the coefficient varies depending on whether derivative positioning and regional flows are included as controls.
Adding interaction terms for basis state and funding direction improves fit, confirming that flows matter most when derivatives agree.
ETF creations and redemptions reflect authorized-participant activity in response to premium/discount dynamics and end-investor orders, not direct market-making.
Daily flow prints can be revised, and issuer-level differences in fees and tax-lot structure create noise in aggregate series.
The analysis also assumes that flows translate into spot buying or selling, which holds when authorized participants hedge creation/redemption baskets in spot markets but breaks down when hedging occurs via derivatives or over-the-counter desks.
The lag between reported flows and actual market impact can span hours to days, complicating intraday correlation tests and supporting weekly frequency as the appropriate unit of analysis.
What to monitor next
ETF flows will continue signaling marginal demand shifts, but their predictive value depends on confirming signals from derivatives and regional data.
Weekly monitoring should track US net flows, non-US ETP direction, on a three-month basis, weighted perpetual funding, and validator queue depth.
When US outflows coincide with negative basis, negative funding, and flat staking growth, the headwind intensifies. When European or Canadian inflows offset US redemptions, or when staking absorbs released supply, the price impact fades.
Catalysts that could flip the flow regime include Ethereum protocol upgrades that affect staking economics, changes in US ETF fee structures that reduce ETHE’s cost disadvantage, or macro shifts that compress Treasury yields and reduce RWA competition.
The relationship between flows and ETH/BTC also depends on Bitcoin’s own ETF dynamics. If Bitcoin ETFs see heavy inflows while Ether ETFs face redemptions, the relative underperformance compounds.
Tracking both asset classes in parallel provides the cleanest read on whether Ether-specific factors or broader crypto sentiment drives the ratio.
US spot Ether ETF outflows have corresponded with ETH/BTC weakness when derivatives positioning and regional flows align, but staking growth and non-U.S. buying have repeatedly absorbed redemptions and limited spot price transmission.
The headwind is real during concentrated outflow windows with negative basis and funding, but it is episodic rather than structural.
Flows matter most as a risk indicator that confirms or contradicts signals from derivatives, staking, and cross-border demand, not as a standalone driver of Ether’s relative performance.
The US Department of Commerce has published GDB on blockchain for the first time.
It has selected Pyth Network as the oracle platform to verify and distribute economic data.
PYTH saw a sharp price increase after the news.
The United States continues to establish itself as the international hub for blockchain and cryptocurrency undertakings.
In a groundbreaking move, the US Department of Commerce confirmed today that it will start publishing GDP (gross domestic product) data on blockchain, starting with last month’s figures.
The announcement catalyzed bullish sentiments across the cryptocurrency space, especially for the project that the government picked.
The US Department of Commerce has worked with nine blockchains and leading exchanges.
To ensure data accessibility and reliability, it chose Chainlink and Pyth Network.
Pyth Network is working with @CommerceGov to power the distribution of gross domestic product data onchain.
Chief Executive Officer of Douro Labs, @mdomcahill was the only person quoted in the White House exclusive press release with @Bloomberg to speak on how Pyth Network is… pic.twitter.com/3HfZ65ilIK
The Department revealed that it published the official hash of its quarterly GDP data across nine networks: Bitcoin, Ethereum, Solana, Avalanche, Arbitrum, Tron, Polygon PoS, Optimism, Stellar, and Arbitrum One.
Also, it has worked with leading exchanges, including Coinbase, Kraken, and Gemini, to facilitate the latest release.
Furthermore, the US Department of Commerce tapped oracle providers Chainlink and Pyth Network to guarantee reliability and accuracy.
PYTH rallied immediately after the news as the community celebrated the project’s “validation moment.”
Pyth Network focuses on bringing real-time, high-quality data on-chain.
Thus, the announcement represented a watershed moment for the altcoin, as it anticipates lucrative use cases.
The government’s reliance on Pyth’s oracle service validates its infrastructure and status as a trusted player in the integration between decentralized networks and public institutions.
Government ratification fuels confidence
Howard Lutnick, US Secretary of Commerce, commented on the benefits of this move.
He perceives it as a part of the President’s strategy to make America the hub of blockchain. Lutnick said:
It’s only fitting that the Commerce Department and President Donald Trump, the crypto-President, publicly release economic statistical data on the blockchain. We are making America’s economic truth immutable and globally accessible like never before, cementing our role as the blockchain capital of the world.
The high-profile commendation has put the Pyth Network on the map as a trusted oracle protocol authorized by the government.
Officials confirmed that it will leverage oracles like Pyth to release other datasets, beyond GDP.
PYTH price outlook
The native coin exploded within minutes after the collaboration updates.
PYTH trades at $1891 after gaining around 62% from its daily low.
The staggering 2,400% uptick in trading volume signals massive interest in the altcoin.
Also, Pyth Network’s market capitalization has crossed the $1 billion mark for the first time since February 2025.
The US government endorsement positions PYTH for impressive performance in the coming months and years.
The development could bolster institutional demand from firms exploring blockchain to provide accurate and reliable data.
Prevailing sentiments suggest PYTH might have secured the needed catalyst to recover to its 2024 all-time highs above $1.
The DEX has signed a strategic collaboration with Ondo Finance.
BNB Chain users can access over 100 tokenized US stocks and ETFs from today.
PancakeSwap has offered zero trading fees for the first month.
PancakeSwap has teamed up with Ondo Finance to bring over 100 tokenized stocks and exchange-traded funds into the BNB Chain.
Starting today, users on the Binance platform can buy or sell digital representations of top US bonds, stocks, and ETFs, all pegged 1:1 to the underlying securities.
According to Ondo Finance CEO Nathan Allman:
Expanding Ondo Global Markets to BNB Chain allows us to bring tokenized US stocks and ETFs to millions of users across Asia, Latin America, and other geographies, in an environment that is fast, cost-efficient, and highly interoperable. This is a major step toward making US markets globally accessible through blockchain technology.
PancakeSwap is teaming up with @OndoFinance to bring 100+ tokenized real-world assets (RWAs) in stocks, bonds, and ETFs onchain to @BNBCHAIN.
PancakeSwap will waive trading fees for the first 30 days to celebrate Ondo Global Markets integration.
That gives the DeFi community a cost-free way to navigate tokenized traditional assets on the Binance ecosystem.
On-chain finance hits a key milestone
The alliance is part of Ondo’s mission to leverage blockchain technology to allow access to high-quality US monetary assets, including real estate and stocks.
Now, BNB Chain’s over 3.4 million daily users and the vast DeFi ecosystem can enjoy Ondo’s offerings.
Further, PancakeSwap promises user-friendliness, self-custody, and transparency.
The integration welcomes a new era for the Binance community, bridging decentralized finance with traditional markets.
BNB Chain’s thriving user base can now access high-net tokenized US securities.
The Chain’s Head of Business Development, Sarah Song, commented:
Real-world assets are one of the fastest-growing segments on BNB Chain, and having Ondo Finance join our ecosystem is another strong validation of that momentum. Together, we’re expanding access to high-quality financial assets and driving the next wave of adoption that connects traditional markets with blockchain technology.
Understanding PancakeSwap’s role
PancakeSwap is the leading DEX on BNB Chain. It will serve as the strategic launch partner supporting trading of the tokenized assets.
The decentralized exchange enables users to trade Ondo’s tokenized securities through a familiar interface, promising a remarkable experience for new and existing DeFi players.
Moreover, PancakeSwap announced a zero-fee campaign between October 29 and November 29.
Ondo will leverage PancakeSwap’s massive user base and liquidity pools to ensure streamlined market activity and price discovery for tokenization enthusiasts on the BNB Chain.
CAKE and ONDO price actions
The native tokens mirrored the broader market performance, exhibiting bearish biases on their daily timeframes.
CAKE lost nearly 5% in the past 24 hours to $2.55, whereas a 2% dip in that timeframe sees ONDO exchanging hands at $0.7364.
Bearish sentiments dominate the broader sector as the global cryptocurrency market cap plunged 1.5% the past day to $3.8 trillion.
